tenant representative: Building Beauty Contest?
- 07/25/13 02:22 AM
Dallas is being well represented at the Building Owners & Managers Association’s Outstanding Building of the Year (or TOBY) awards. A building beauty contest? Who knew? Now these buildings aren’t just being celebrated for how they look – just like Ms. America, right? They are also judged on other factors like Security, Building Management and Community Service. Rosewood Court in Uptown is one of the buildings nominated for an award. It is a great building and has the distinction of being the most expensive office building in Dallas with a quoted rental rate of $40.00 per square foot. Read Candace Carlisle’s … (0 comments)
My name is Michael Thomas. I’m the executive director for My Possibilities. We’re a nonprofit organization for adults with cognitive disabilities. We’re a continued education center. We pick up where the school system leaves off. My Possibilities. Each HIPster (Hugely Important Person – the acronym we use for our adults) have a wide variety of different cognitive disabilities. They can range from autism to Down’s Syndrome and cerebral palsy. We have adults who have traumatic brain injuries and really everything in between. Regardless of … (0 comments)
tenant representative: Office Beat
- 05/07/13 01:24 AM
As a former landlord and current tenant broker, it’s impossible not to have a strong admiration for great buildings. Some have architecture and personality that draw you in and excite you while others just leave you flat and bored. John Alvarado approaches buildings in an interesting way- by giving them musical styles. Read his blog here to see what I mean. So here are my questions: What’s the musical style of your office? Does the “musical style” of your office follow the beat of your business? … (0 comments)
My name is Kadupski. I am the CEO and founder of the Sport Source, which is an educational publishing company. Our niche in the market is assisting student athletes in making a college decision and their future decisions. What we do is have e-learning labs that assist the kids. From 8:30-5:30 Central Standard Time, you can get a live body. We work with youth organizations. We work with independent school districts to assist them in helping their kids transition … (0 comments)
tenant representative: Forbe's List of America's Fastest Growing Cities
- 03/05/13 12:38 AM
Texas dominates the top three fastest growing cities in America according to Forbes. Behind Austin and Houston, Dallas boasts an impressive 2.1% growth rate and 5.7% unemployment. Not too shabby, Dallas. What does this mean for businesses already operating in Dallas? We’ve talked before about how more growth equals more business and opportunity for everyone, but this kind of growth also requires tenant to lease more space which brings a healthy sense of competition. This creates demand which can then drive rate increases. REATA specializes in connecting clients to the right office. Your office space should work for your business, your … (1 comments)
Total Class Solutions is a national class action administrator that specializes predominantly in construction defect issues, although we are currently expanding to other issues during 2012. It is often thought of as an insurance company-related business. It is not. It’s handling class actions and working specifically with both defendant and plaintiff attorneys who are settling or about to settle cases. The management team of Total Class Solutions has been handling class actions for over 15 … (0 comments)
tenant representative: The Good, The Kinda Bad and the Growth in Dallas
- 01/15/13 12:59 AM
Dallas has enjoyed steady job growth and didn’t suffer nearly as bad as much of the country during the economic downturn. Job growth means more demand for commercial space. If more businesses begin to grow and/or move to Dallas, what does that mean for those of us who are already here? Change and growth always bring bad with the good. But really, even the “bad” is pretty good.
The good news: more business in Dallas means more potential clients and more economic growth for everyone and Dallas will begin to skyrocket closer to the top of places to do business … (2 comments)
tenant representative: The American Business Mantra – Do More with Less
- 06/07/12 07:36 AM
Feeling tired and overworked? According to a study by the National Sleep Foundation, the average employed American works a 46-hour workweek and 38% of the respondents worked more than 50 hours per week. You may be surprised to learn that this contributes to commercial tenants paying far too much when they renew their leases. This can happen when renewing a lease becomes a ‘check box’ item on a To Do list without leaving adequate time to consider the most important negotiating factors. Being overworked and having too little time are not the only reasons tenants can overpay when renewing their … (2 comments)
tenant representative: Is Your Corporate Real Estate Advisor Your Business Partner? And Only Yours?
- 03/01/12 09:36 AM
Working with an exclusive tenant representative is the best way for commercial office tenants to be assured their company's mission is at the heart of a lease transaction. The best tenant representatives are more than just lease-to-lease brokers, they are ongoing real estate business advisors. But what happens if your exclusive tenant representative also provides landlord services or joins a full-service company? This business strategy introduces a number of serious consequences to your relationship. Namely, it raises a number of questions about how your long-term real estate strategy will be handled. Can your tenant representative assure you of business confidentiality with … (0 comments)
tenant representative: Hire the Expert, Don't Take Time to Become One
- 07/08/11 11:29 AM
So many times in life we try to do something ourselves because we're too cheap to pay an expert. That's why the floor tile is crooked in my bathroom and the faucet at the kitchen sink is loose. Sure I can do it, but can I do it well and for good. It's the same in business. What am I doing myself that I should be paying someone else to do? Website? Marketing? Adwords? Health benefits? Negotiating a lease? The amazing thing is that sometimes we do it ourselves when an expert is willing to do it at no additional cost. … (2 comments)
tenant representative: Your Commute and Office Location
- 06/12/11 03:39 PM
Friday afternoon was frustrating. I sat in traffic and wondered why I chose that route. I had been sitting there for 30 minutes and had only gone maybe 4 miles 5 miles. I was returning to my office in Plano from a client tour in Uptown, but it got me to thinking about a company's office location in relation to commutes. How does or should traffic factor into where companies office? It really should factor in a big way because the amount of time you spend a car is usually at the expense of work time or personal time - … (0 comments)
tenant representative: Corporate Real Estate Services - Sometimes It's a Sale
- 05/23/11 03:45 AM
I am a Corporate Real Estate Advisor. Most people use the term "tenant rep" which is short for "tenant representative" because it's shorter and easier. I'm fine with that because most companies want to lease space instead of buying it. But Corporate Real Estate Advisor is a better term because we handle all real estate services that a company might need. This includes leasing new space and negotiating lease renewals as you would expect, but it also includes: 1. subleasing space no longer needed, 2. buying buildings for company use, 3. selling buildings no longer needed, 4. … (2 comments)
tenant representative: Top Tips for Negotiating Commercial Leases - #13 Subleases can Save a Bundle
- 05/19/11 09:09 AM
Want to save a bundle on your next office lease? Try to find a sublease. Subleases are often priced 20-50% below what the landlord is charging for direct leases. So a building charging $20.00 may have subleases in the range of $10.00 to $16.00. The closer you get to the expiration date of the sublease, the lower the price goes. Other factors affecting the rental rate will include how long the space has been on the market and whether furniture and equipment are available for the subtenant. Many subleases have furniture, phone systems, equipment, and maybe even art and plants in … (0 comments)
tenant representative: It's All About Timing
- 05/02/11 10:02 AM
I have lived in Plano, Texas for the last 15 years and have been in the North Texas area for most of the last 30 years. I was working in the yard yesterday afternoon with Toots - my half pointer, half pit bull, all play, 4-legged daughter. She loves working in the yard with me, but it often creates more work than if she were inside, but then that wouldn't be any fun. It had been raining and storming overnight and half the morning so I didn't go out to work until late in the afternoon to give things a little … (0 comments)
tenant representative: Top Tips for Negotiating Commercial Leases - #11 Insist on an Exclusive Representation Agreement
- 03/17/11 05:05 AM
“I won't sign an exclusive representation agreement. I want to keep my options open.” This is a common comment from prospects who are fearful that an exclusive agreement will restrict them. Behind this comment is also the assumption that an exclusive agreement is only there for the tenant rep broker’s benefit. The reality, however, is that clients should NOT engage a broker who is willing to work without an exclusive representation agreement. There two primary reasons for this:
Time - working with 2-3 brokers wastes the client’s time because all agents will likely find the same properties and the client … (0 comments)
tenant representative: Top Tips for Negotiating Commercial Leases - #9 Talk to Other Tenants in the Building
- 03/02/11 12:05 PM
Okay, so you found a building you really like and you have negotiated what you think is a pretty good deal....or your tenant representative has done that for you. So now you are ready to charge forward with the lease itself so you can get the construction done and move in. Right? Wrong. You should talk to some of the other tenants in the building. Or at least be sure your tenant rep does. It’s important to know what the current tenants think of the building and the landlord. How are they being treated? How does the landlord maintain the … (1 comments)
tenant representative: Top Tips for Negotiating Commercial Leases - #8 Never Talk to Your Landlord Again
- 02/21/11 06:18 AM
If you are sued and you hire an attorney to represent you, who does the talking in the courtroom? Would it make sense for you to call the plaintiff's attorney or even the plaintiff directly to discuss the case? The answer is obviously no. It’s the same in any negotiation in which an agent or intermediary is hired by a principal. You can't successfully negotiate if there are multiple people contacting the other side. Not everyone would have the same information when needed. So it's important that your tenant representative (corporate real estate advisor) be the single point of contact for … (0 comments)
tenant representative: Top Tips for Negotiating Commercial Leases - #7 Engage a Tenant Representative Broker
- 02/17/11 10:20 AM
As you can probably guess, this is my favorite tip. So while I have this as tip #7, it actually is the first thing taht you should do before you do anything else. Don't contact any landlord, not even your current landlord, before selecting and engaging a tenant rep. The rental rates landlords quote already include a fee for your representative. So if you don’t use one, it’s like paying for a service that you don’t receive. The landlord may offer to reduce the rent by the amount they would have paid a broker, but if the landlord is so willing … (1 comments)
tenant representative: Top Tips for Negotiating Commercial Leases - #6 Use a Proposal Comparison Spreadsheet
- 02/14/11 05:03 AM
Using a proposal comparison spreadsheet has many benefits, but the most important one is that it helps to keep you focused on what really matters. When you get deep into the search for the right property and are negotiating with several landlords at the same time, it's pretty easy to overlook details. And sometimes the detail you overlook may be one which you said we really important when you started. With a comparison spreadsheet, you can list all the important criteria and then start filling it in as you get proposals. If something is missing, it's easy to see it. Make each … (0 comments)
tenant representative: Top Tips for Negotiating Commercial Leases - #5 Create a Bidding War
- 02/07/11 10:44 AM
Scarcity is the basic economic problem that arises when someone has unlimited wants but limited resources. And guess what? Tenants are the resource that landlords want the most. I don't care if you are in Dallas, Plano, Frisco, Richardson or Tokyo. Landlords are the same. Tenants create value in their buildings. So it's important to create a bidding war for your business. This requires that you have several lease alternatives (real or perceived) and that all landlords know that other options exist. Get proposals from each. Talk to them about certain features of other proposals you have been able to get. Even … (2 comments)
Anything and everything related to corporate real estate - a company's use of real estate. This is usually a company's lease or purchase of office, warehouse or retail space.
Dallas is being well represented at the Building Owners & Managers Association’s Outstanding Building of the Year (or TOBY) awards. A building beauty contest? Who knew?
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